Crave TV: The Four Components Of The Marketing Mix

The promotionPromotion is the business of communicating with customers. It will provide information that will assist them in making a decision to purchase a product or service. The pace and creativity of some promotional activities are almost alien to normal business activities.The cost associated with promotion or advertising goods and services often represents a size-able proportion of the overall cost of producing an item. However, successful promotion increases sales so that advertising and other costs are spread over a larger output. Though increased promotional activity is often a sign of a response to a problem such as competitive activity, it enables an organization to develop and build up a succession of messages and can be extremely cost-effective.

Abstract In this paper I will define what a good marketing mix requires and describe how a company uses this process to market their product. I have chosen Anytime Fitness as my company to do my paper on. Anytime Fitness is a unique style of fitness club that is in a very competitive market place. Their marketing mix focuses on all of the four P's to attract customers. They locate small neighborhood clubs close to where people live and work. They are a no frills workout center that offers weights and cardio equipment. This allows people with busy lifestyles to workout whenever they have time. Anytime Fitness also offers a very good pricing plan for individuals and families.

Based on what was written above, it is clear that Crave TV is in a very competitive environment and in order to compare CraveTV to its competitors there are multiple factors that have to be considered. In order to compare the main three on-demand video streaming services, price, content, and convenience have to be examined. As seen in my previous post, Crave TV has a pricing advantage in comparison to Netflix and Amazon Prime Video. However, content and convenience also play a huge role in determining whether a consumer decides to use their service. If the customers are dissatisfied with the provided content and the platform is not utilized on a consistent basis, they will switch to a different provider.

This initial cost of the startup of this program will be a minimal impact on Kudler Fine Foods. The initial advertisement effort will be done via social media; the companies Facebook page and Twitter account, email and word of mouth. Allowing for a reward system for costumer referrals can be used for current and new customers as the programs is employed and continues to grow. Rajiv and bell argue “customer retention costs are generally lower than customer acquisition costs, companies are better of focusing attention on their more loyal customers especially since the top 20% of customers account for 80% of revenues and often more than 100% of profits” (p. 180, 2003). Kudler Foods could reduce their marketing expenses by using a customer loyalty system through the use of rewards. The sales increase from this program should be reflected by the increase of new customers and the increased returning customers increased spending. The use of seasonal promotions only available to costumers enrolled into the frequent buyers program could also help in increased sales profits.

The downturn of the economy has taken away many peoples disposable income and Netflix’s limited online library may have caused customers to question if it was worth it or not.

In Shakeaway, they currently have campaign to promote their Christmas winter products to be able to make these products successful they use the marketing mix along with the promotional mix which supports the marketing mix when marketing and promoting the product. The marketing mix is ideas to consider when Shakeaway is marketing their new winter milkshakes, the promotional mix is how Shakeaway communicates with different target audience and is one of the key element within the marketing mix.

Marketing mix is used at the MARC facility to develop and implement a plan to achieve organization goals. The four variables product, price, place, and promotion are within the organization’s control and therefore, the mix of those four elements are key in marketing decisions. Marketing mix is the combination of all the experiences, tools, innovations, and creativity that the MARC uses to make consumers their clients. All four P’s are needed in a marketing mix they should all be tied together. Revenue, while promotion, place, and product generate cost. Producing, designing, distributing, and promoting products come with expenses.

The marketing mix is a desirable place to begin when you are thoroughly considering creating a new product or service, and it offers you some

In this paper about the Marketing Mix, it will explain the elements of the marketing (product, place, price, and promotion). I have enclosed a chart about the Pricing Strategies Mix. I will also be selecting an organization by the name of Target in which I am familiar with and will describe the four elements of the marketing mix and how it impacts the organizations developmental marketing strategies and tactics.

The American Marketing Association defines marketing as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large” (https://www.ama.org/AboutAMA/Pages/Definition-of-Marketing.aspx). The marketing mix consists of product, price, place, promotion, which means that a company needs to sell the right product at the right price and in the right place, using the best promotion. Because of

A component of Crave TV’s marketing mix that they can improve on is their promotion. Though they are with Bell Media one of the biggest companies in Canada I’ve personally never seen any commercials or advertisements physically or on the internet. If daily internet users haven’t seen a single advertisement for Crave TV then something is wrong. The current generation revolves around technology and the internet; therefore Crave TV should acknowledge that and built towards developing an online presence. As of now Crave TV only has 33,200 twitter followers and 3,000 Instagram follows whereas their main competitor Netflix has 3.74 million twitter follows and over 4 million Instagram followers. As we discussed in class we are in the social media

Multiple targeted promotion is used to lure customers. For example Single Use Promotion code (SUPC) is used specifically to target customers based on activity like abandoned cart, checkout drop, product view, customer review lookup etc.,

I do have something in common with CraveTV's target market. For instance, CraveTV offers HBO shows, which I love. Moreover, CraveTV is cheaper than both Netflix and Amazon Prime and I spend

The first thing works for CraveTV is its price and content. The basic monthly price for Netflix is $8.99(https://www.netflix.com/ca/#this-is-netflix) and for CraveTV, it is $7.99(http://www.cravetv.ca/info/online-streaming-trial/?cid=ps:CraveTV:google:searchad:AvailableNow:Brand), one dollar cheaper. This one dollar difference can makes CraveTV has a larger customer market. With the cheaper price, CraveTV should focus on its content. On CraveTV, people are able to watch all HBO shows, which are classical. Meanwhile, it has almost every popular series for all seasons, so it is a completed dream choice for those people who love HBO

The marketing mix is a combination of 4 P’s (product, price, place and promotion) that should be used in conjunction with each other to ensure a competitive edge over other companies. ‘The marketing mix is designed to produce mutually satisfying exchanges with a target market’.